Standard Direct Materials Cost per Unit
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (4,250 bars) are as follows:
Ingredient | Quantity | Price | |||
Cocoa | 540 | lbs. | $0.40 | per lb. | |
Sugar | 150 | lbs. | $0.60 | per lb. | |
Milk | 120 | gal. | $1.70 | per gal. |
Determine the standard direct materials cost per bar of
chocolate. If required, round to the nearest cent.
$__per bar
Standard Product Cost
Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:
Direct labor: | standard rate | $15.00 per hr. |
standard time per unit | 4.00 hrs. | |
Direct materials (oak): | standard price | $12.50 per bd. ft. |
standard quantity | 16 bd. ft. | |
Variable factory overhead: | standard rate | $2.40 per direct labor hr. |
Fixed factory overhead: | standard rate | $0.80 per direct labor hr. |
a. Determine the standard cost per dining room
table. If required, round your answer to two decimal places.
$ per dining room table
b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of . Using this principle, cost deviations from standards can be investigated and corrected.
Answer to Part 1 | ||
Determination the standard direct materials cost per bar of chocolate | ||
Particulars | Calculation | $ |
Cocoa | 540*0.40 | 216 |
Sugar | 150*0.60 | 90 |
Milk | 120*1.70 | 204 |
Total | 510 | |
Number of batch of chocolates | 4250 | |
Standard direct materials cost per bar of chocolate (510/4250) | 0.12 |
Answer to Part 2 | ||
A. Determination the standard cost per dining room table. | ||
Particulars | Calculation | $ |
Direct Labor | 15*4 | 60.00 |
Direct Material | 12.5*16 | 200.00 |
Variable factory overheads | 2.4*4 | 9.60 |
Fixed factory overheads | 0.80*4 | 3.20 |
Standard cost per dining room table | 272.80 |
B | ||
A standard cost system provides Rosa Furniture management a cost control tool using the principle of COST CONTROL. Using this principle, MAJOR cost deviations from standards can be investigated and corrected. |
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in...
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,425 bars) are as follows: Ingredient Quantity Price Cocoa 390 lbs. $0.30 per lb. Sugar 120 lbs. $0.60 per lb. Milk 90 gal. $1.70 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. $ per bar.
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,164 bars) are as follows: Ingredient Quantity Price Cocoa 420 lbs. $0.40 per lb. Sugar 120 lbs. $0.60 per lb. Milk 90 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. $per bar
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Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,200 bars) are as follows: Ingredient Quantity Price Cocoa 400 lbs. $1.25 per Ib. Sugar 80 lbs. $0.40 per lb. Milk 120 gal. $2.50 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places. per bar
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Standard Direct Materials Cost per Unit Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (2,338 bars) are as follows: Price Ingredient Quantity 660 lbs Cocoa $0.30 per lb. $0.60 per lb 180 lbs Sugar 150 gal $1.70 per gal Milk Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent per bar